EUR/USD is bouncing back nicely after reports of BIS-buying made the rounds in the 1.2560 area. At thhe same time, USD/CAD surged, leading sharp thinkers like yours truely to surmise maybe someone bought a load of EUR/CAD. That cross traded up as high as 1.6427 and now is dipping back below 1.6400.
US equities are bouncing back after big opening losses with the market buoyed by the big Merck/Shearing Plough m&a deal.
EUR/USD is back above 1.2600 as shorts cover on the turn in US equities. Risk off, risk on…
